MakeO, the parent company of the Indian transparent aligner brand Toothsi, has successfully completed a funding round, raising 90 crore rupees. The round was led by Singularity AMC, with participation from DSP family office, Genesis, and Unispace Ventures.
The secured funding reflects investor confidence in the company's mission to create a world-class platform for dental technology and aligners for India and Southeast Asia. This fundraising followed the acquisition of Zenyum, based in Singapore, which allowed MakeO to expand its presence in the Southeast Asian region.
The group currently has about 1100 partner dentists across 10 countries. Furthermore, MakeO has strengthened its position outside major Indian metropolises by acquiring a network of 20 Apple Dental clinics located in Andhra Pradesh and Telangana.
Forecasts and Development Strategy
Dr. Arpi Mehta, CEO of the group and co-founder of MakeO, stated the company's ambition to revolutionize the global oral care and aligner category. He specified that the capital raised will be directed towards further organic and inorganic offline expansion in both India and Southeast Asia. These funds will allow investment and strengthening of a comprehensive platform covering consumer experience, clinical centers, technological support, and manufacturing capabilities.
MakeO's strategy is based on the 'Manufacture in India for the World' approach. An integrated planning and manufacturing center in the Mumbai Metropolitan Region annually produces over one million FDA-approved aligners. This facility serves dentists and consumers in more than 150 cities in India and exports products through the Toothsi and Zenyum networks to over 10 countries.
Co-founder of MakeO, Dr. Pravin Shetty, noted that the firm is developing an AI-driven digital platform for orthodontics and dentistry. According to him, a production facility for aligners has been created, equipped with a state-of-the-art center for orthodontic treatment planning based on 3D virtual AI.
The combined platform has achieved revenues exceeding 500 crore rupees and became EBITDA profitable at the beginning of this year. With the new funding round, the company aims to double its revenue within the next two to three years. Additionally, as part of expanding its offline presence, the company is actively exploring mergers and acquisitions (M&A) opportunities in the dental and aligner sectors in both India and Southeast Asia.
Manjul Jain, co-founder of MakeO, emphasized that this funding enhances the company's ability to develop and manufacture world-class products using advanced 3D printing and robotic automation in Mumbai, while also delivering them to over 100 cities in India and 10 countries worldwide.